Investors are still stressing over inflation and about half say that it hasn't peaked yet, State Street survey says

A survey by State Street Global Advisors shows that nearly half of investors are stressed out over inflation and that it hasn't peaked.

State Street reported that 45% of investors said inflation was making them stressed. More than half of investors don't think inflation has peaked yet, showing some pessimism ahead of the July Consumer Price Index reading.

The consumer price index was 9.1% in June. In the last 41 years, inflation has risen at the fastest rate.

The Fed is struggling to tame inflation because it insists that rising prices will be temporary.

At the most recent meetings in June and July, the Fed raised its rates 75 basis points. State Street said that although Fed Chair Powell said he believed the current policy rate had reached a neutral state, that hasn't done much to soothe investors.

Many market watchers and participants doubt the ability of the Fed to pull of a soft landing for the economy according to a survey by the asset manager. More than half of investors think the US will fall into a recession in the next six to 12 months. Bank of America, Wells Fargo, Morgan Stanley, and other investment banks predict a mild recession on the horizon.